New York State Common Retirement Fund Cuts Stake in Charter Communications, Inc. (NASDAQ:CHTR)

New York State Common Retirement Fund lowered its stake in shares of Charter Communications, Inc. (NASDAQ:CHTR) by 21.2% in the third quarter, Holdings Channel reports. The firm owned 55,138 shares of the company’s stock after selling 14,800 shares during the period. New York State Common Retirement Fund’s holdings in Charter Communications were worth $17,869,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CHTR. Capital International Investors increased its stake in shares of Charter Communications by 53.6% during the first quarter. Capital International Investors now owns 10,558,651 shares of the company’s stock worth $3,068,661,000 after purchasing an additional 3,685,451 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Charter Communications by 172,425.2% during the second quarter. First Eagle Investment Management LLC now owns 348,501 shares of the company’s stock worth $104,188,000 after purchasing an additional 348,299 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Charter Communications by 12,597.3% during the third quarter. Assenagon Asset Management S.A. now owns 249,756 shares of the company’s stock worth $80,941,000 after purchasing an additional 247,789 shares in the last quarter. Pzena Investment Management LLC grew its stake in Charter Communications by 6.1% during the 2nd quarter. Pzena Investment Management LLC now owns 3,023,589 shares of the company’s stock valued at $903,932,000 after acquiring an additional 175,130 shares in the last quarter. Finally, Zimmer Partners LP purchased a new stake in Charter Communications during the 1st quarter valued at about $32,074,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CHTR. Morgan Stanley upped their price objective on shares of Charter Communications from $360.00 to $415.00 and gave the company an “equal weight” rating in a research note on Monday. Bank of America raised shares of Charter Communications from a “neutral” rating to a “buy” rating and upped their price objective for the company from $385.00 to $450.00 in a research note on Monday. Benchmark upped their price objective on shares of Charter Communications from $440.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday. TD Cowen upped their price objective on shares of Charter Communications from $488.00 to $525.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Charter Communications from $340.00 to $365.00 and gave the company a “hold” rating in a research note on Monday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $379.06.

Charter Communications Stock Performance

Shares of CHTR stock opened at $382.38 on Wednesday. The firm’s 50 day moving average price is $333.90 and its 200-day moving average price is $314.01. The company has a debt-to-equity ratio of 5.24, a quick ratio of 0.39 and a current ratio of 0.34. Charter Communications, Inc. has a one year low of $236.08 and a one year high of $422.92. The firm has a market cap of $54.58 billion, a P/E ratio of 11.98, a P/E/G ratio of 0.66 and a beta of 1.03.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, November 1st. The company reported $8.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.55 by $0.27. The company had revenue of $13.80 billion for the quarter, compared to analyst estimates of $13.66 billion. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $8.25 EPS. As a group, equities research analysts predict that Charter Communications, Inc. will post 32.51 EPS for the current year.

Charter Communications Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.